NZ's Port Of Tauranga sees increased year profit
New Zealand's Port of Tauranga Ltd expects to post a record full year profit on rising cargo volumes, the company said on Thursday, Reuters reports. The company, which runs the country's biggest export port, was comfortable with the range of analyst forecasts between NZ$64 million to NZ$67 million ($52 million to $54 million) for the year to June 30 2012.
That compares with the net profit after tax of NZ$57.9 million for the year to June 30.
The company's annual meeting heard that first quarter cargo volumes are up around 13 percent and earnings up 16 percent.
Port of Tauranga's shares, 55 percent owned by a local council, were steady at NZ$9.60.
That compares with the net profit after tax of NZ$57.9 million for the year to June 30.
The company's annual meeting heard that first quarter cargo volumes are up around 13 percent and earnings up 16 percent.
Port of Tauranga's shares, 55 percent owned by a local council, were steady at NZ$9.60.